Historical, Madison, SD School House at Auction
aka “Hope Studios”
“An Entire City Block will be Sold!”
Saturday August 12th
Real Estate Auction—10:00 a.m.; Personal Property to follow at approx. 10:30 a.m.
Located: 211 SE 4th St, Madison, SD. From Hwy 34 and Washington Ave intersection (Prostrollo corner), North on Washington to 4th St, West on 4th St. 1-block. OR from Egan Ave & 2nd St NE intersection stop (by DQ)--South on Egan Ave 6 blocks, East 1-Block on 4th St.
OPEN HOUSES: Saturday July 30th, 1pm to 4pm and Tuesday August 2nd, 5 pm to 8pm
This is a once-in-a lifetime opportunity to purchase a truly unique piece of Real Estate in the heart of a growing South Dakota city!
Once in a lifetime opportunity to own a beautiful, former elementary school and current home, situated on a full city block, on a prime corner of Madison, SD. This incredible 15,000 sq. ft. brick building features two, full modern loft style apartments, a gym with stage, and 6 large class rooms that have been used for boutiques, art/photo studios, offices, dance/yoga, and guest bedrooms. Over 50 high speed internet drops, updated electrical, with modern heating and cooling. This building would make a great investment as “Air B&B” type rentals or could easily convert to highly desirable, modern-style apartments. High ceiling though out, accessible plumbing in most room, and many rooms with beautiful wood floors. This building has been maintained and utilized since its inception, and with the many industrial utility accesses, is surprisingly easy to maintain. Most rooms have modern, Hotel-style heat pump / AC units (P-tac's), as well as large natural gas furnaces for common areas and gym. Easily controlled zone type climate control, makes heating and cooling surprisingly simple and cost effective.
Location, Location, Location! The building sits on the north edge of a wonderful, landscaped and mowed, full city block. The property is zoned commercial, light industrial, and residential, with full curb and gutter. This property is in the southeast corner of Madison, just a block from Lewis, Shopko, diners, and within walking distance from thriving Dakota State University, plus just blocks from the new Madison Regional Hospital, along with Lake Madison, Lake Herman, Parks & Ball Diamonds all close by. Madison is a thriving, beautiful town, and a recent housing study proved the need for more multi-family housing, apartments, hotels, and condos in this area.
The Hope family has made a career change and will be moving out of the state. If they could put this property on the moving truck they would! But have instead chosen to sell this truly unique piece of real estate, and much of their personal property with us here at Girard’s.
The Hopes' businesses are primarily creative in nature, so the personal property auction will also feature art, stained glass, antiques, vintage furniture, shabby-chic type up-cycle projects, artistic materials, musical instruments, jewelry, signs, construction materials, tools, riding lawnmower, and so much more.
Truly endless opportunity! The Hope family has made this their “home”, art studios, and business locations since 2004. You could continue to use it as your primary residence or renovate it into 1-of-a kind lofts and apartments, and develop or sell the additional land. Surprisingly easy to maintaining a property of this size, and more cost effective than you may think! Tons of “meat on the bone” here. Make plans to attend one of the open houses, or call Michael Hope for a private showing, and see for yourself everything this property has to offer.
Please check Girardauction.com for photos, video tour, and more info.
For questions, or to schedule a private showing,
please contact Michael Hope, (605) 270-2938
Terms: 10% Non-refundable down payment due the day of auction with the balance due on closing, September 12th, 2017. Lake County Abstract, Closing Agent. Taxes prorated to the day of closing. Title Insurance & Closing Costs split 50/50 between buyer and seller. Possession on closing. Auctioneers are acting as agents for the seller.
Michael & Reina Hope, Owners
Ken Girard, CAI, AARE—SD Broker; Marv Girard, BA; Mike Girard, CAI—BA; Scott Moore, BA